ENTREPRENEUR PROFILING AND DEVELOPMENT COURSE (EPDC)
BY AHMAD KAMIL BIN ABU HASHIM
Introduction
Entrepreneur
An entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit. Simply put they are the person engaging in any business in a product or service. Due to the current economic adversity caused by the Covid-19 pandemic, many of those who are affected are now seriously looking into entrepreneurship as an alternative career of choice.
The number for unemployment among fresh graduates had further risen by 22.5% in 2020 from 2019 to 220,000.00 due to the pandemic. This situation had exacerbated the employment sector and thus the need to be involved in business has become even greater.
Most of them ventured into the sea of business without any guidance and basic business training. For them, any business that can generate income will be their appropriate and logical choice. When times are difficult, this is apparently the best thing for them to do, they thought. However, they are often oblivious to the fact that not all individual befits as an entrepreneur and not all business promises the blue sky, what more with lack of profiling and business training.
Profiling
Profiling is the recording and analysis of a person's psychological and behavioural characteristics, so as to assess or predict their capabilities in a certain sphere or to assist in identifying categories of people.
First and foremost, an individual who wishes to be an entrepreneur should be profiled as to whether they have the necessary entrepreneurial traits. This can be done by profiling them using an entrepreneurial psychometric application. Here the individual entrepreneur will be profiled in areas of entrepreneurial competence, focus in business, leadership and capacity in sound finance-related decision making. When they know which traits they have issues, only than they can further undertake intervention measures such operational training, business training, mentoring or coaching.
Development
Few are aware that before doing a business they need to learn about the elements of business. They need to understand the dynamics and interconnectivity of these elements. These elements are important and definitely vital to their business success. Among the business elements are value proposition, market segment, key resources, key activities, key partners, costing and revenue generation. The same goes for those who are already in business. They should also retrospectively look at all the elements in their businesses so as to develop their future business development strategies.
Course Objectives
At the end of the program, the participants are able to:
· Know the importance of the following business acronyms.
o S.C.O.R.E
o G.R.O.W.
o S.W.O.T.
· Know the entrepreneurial trait that they possess in terms of:
o Managing Self for entrepreneurial competency
o Managing Business for entrepreneurial focus
o Managing People for leadership
o Financial decision-making capacity
· Manage their business better by being aware of their business model elements and dynamics:
o Value Proposition – What value will you propose to your customer segments with regards to your product or service.
o Customer Segments – Who are their 3 tier customer segments
o Customer Relationship – How to maintain relationship with customer
o Channels – How to communicate with customer segments
o Key Activities – What are your main operational activities
o Key Resources – How to plan your key resources
o Key Partners – Who are your key partners in business
o Cost Structure – What are your detailed costing for the business
o Revenue Streams – How to identify revenue streams
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